Tesla has announced that it will pause production at its California plant to prep it for Model 3 production. CEO Elon Musk hopes to begin early production by February 20, with volume production in July.

Tesla has confirmed that the Model 3 is on track for a March 2016 pre-order window and showing. The car’s $35,000 base price could drop as low as $25,000 once rebates are taken into account — and that’s critical to driving mainstream adopting of electric vehicles.

This week, a video of a Tesla Model S that caught fire on the road was uploaded to YouTube. The incident brought Tesla’s valuation down 15%, to the tune of a $4 billion drop. However, the fire wasn’t brought on by the car itself, but rather, something it hit.